ON Wednesday, April 29, at 23:15 hours, Brent Crude hit a staggering high of $126 (£93) per barrel.
Rachel Reeves must reduce fuel duty immediately. More than 60 countries implemented such measures over a month ago – slashing duties, VAT, or launching billion-dollar support packages – to ease the burden of high fuel costs. The Chancellor’s failure to act threatens inflation, jobs, small businesses, consumer spending, social cohesion and economic growth. Her inaction and seeming lack of understanding of necessary steps are causing unnecessary hardship.
It is hard to see why is she ignoring the distress her inaction is causing the nation. Unless the reason is Treasury windfall generated by the Iran oil conflict. While this has added £2billion to UK fuel costs since late February, with commercial and business diesel users facing the steepest increases, higher pump prices have generated over £336million in additional VAT revenue for the Government.
FairFuelUK will be presenting a petition to No 10 and No 11 Downing Street in the next few weeks, calling on the Prime Minister and the Chancellor to deliver what the UK economy and the commercial and social heartbeats of our nation need right now, namely:
1. Cut Fuel Duty NOW
2. Remove VAT from Fuel Duty NOW
3. Announce the scrapping of the Fuel Duty increase planned in the Autumn Budget, and for the whole lifetime of this Parliament, NOW.
I will be delivering this petition with senior Westminster politicians who have given it their full support. Details of date and timings will follow.
The petition already has over 132,000 signatures and can be accessed at https://fairfueluk.co.uk
Please sign to save the economy.
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